Sen. Gillibrand unveils foreclosure help bill

Sen. Kirsten Gillibrand unveiled a new bill that she says could help families struggling to make their mortgage payments.

Gillibrand announced the bill in Mount Vernon over the weekend, saying that nearly $4 billion dollars in aid would be made available to families who are behind in their mortgage payments by at least three months.

"370,000 families have lost their homes in Mount Vernon," Gillibrand said. "What we want to do is create some solutions."

Another part of the bill would give local governments an additional $1 billion to buy and restore foreclosed and abandoned homes in order to maintain property values. The bill has not been scheduled for a vote yet.

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